Sunday, May 28, 2017

Uh-Oh, We’re Racking Up Credit Card Debt Like It’s 2007 Again

Source: Martha C. White, Time.com History might be repeating itself. While consumer confidence in the economy is generally a good thing, that optimism can have a serious downside if it prompts people to take risks with their money. Unfortunately, the newest numbers from WalletHub.com indicate...

Illinois and Chicago eye Wells Fargo business bans

Source: Karen Pierog via Reuters.com Wells Fargo & Co (WFC.N) faces possible bans from doing business with the city of Chicago and the state of Illinois in the wake of its sales scandal that erupted earlier this month. Alderman Edward Burke, who...
rent

It’s Getting Harder to Pay the Rent in America

A senator's plan to build 400,000 affordable units over 10 years is just a drop in the bucket. Source - Bloomberg It's been more than 15 years since Congress increased funding for the Low Income Housing Tax Credit, the government's primary method for...

Banks start talks about sharp cuts to customer fees

Source: John Aidan Byrne via nypost.com US banks are finally talking about huge breaks on fees paid by retail customers — and some experts see these sharp cuts in the coming year on everything from overdraft and ATM fees, to...
trade

China Preparing For Trade War With Trump

Source: The Anti Media Top Chinese Economic Adviser Preparing for Trade War with Trump On Wednesday, the New York Times ran a biographical piece on Lui He, the top economic advisor to Chinese President Xi Jinping. Described as a “soft-spoken, American-educated...

Warren Buffett just confirmed the death of retail as we know it

Source: Hayley Peterson, businessinsider.com Warren Buffett says that in 10 years, the retail industry will look nothing like it does now. "The department store is online now," the billionaire investor said Saturday at Berkshire Hathaway's annual meeting in Omaha, Nebraska, as...

4 perks of Solo 401(k) for business owners and freelancers

Source: Dmitriy Fomichenko, NerdWallet via usatoday.com “Save your money. You’re going to need twice as much money in your old age as you think.” — Michael Caine If you’re self-employed and trying to boost your retirement savings, Solo 401(k) plans are a...

69% of Americans Have Less Than $1,000 in Savings

Source: Cameron Huddleston via Go Banking Rates 69% of Americans Have Less Than $1,000 in Savings. Saving money is still a struggle for many Americans, finds a new survey. Kaspars Grinvalds / Shutterstock.com Americans are falling short when it comes saving money...

Private Debt is Suffocating the Global Economy

Source: Richard Vague via Democracy Journal Private Debt Crisis China is drowning in it. The whole world has too much of it. History suggests: This won’t end well. Why does the IMF keep badly missing its global growth forecast? And what does...

Wells Fargo Scandal Spreads to Prudential Insurance

Source: Matt Egan via CNNMoney.com It may not have been just fake bank and credit card accounts. Now there are allegations that Wells Fargo customers were sold Prudential insurance products they didn't want. Wells Fargo employees appear to have signed up...

BREAKING NEWS

Christian Extremists Slaughter Muslims in Central Africa

Source: The Anti Media Media Silent as Christian Extremists Slaughter Muslims in Central Africa Hundreds of civilians are seeking refuge inside a mosque in the Central...